v3.26.1
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($)
$ in Millions
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Assets      
Available-for-sale securities $ 241,879 $ 228,544  
AFS securities allowance for credit losses 704 758 $ 761
Accrued investment income 4,015 3,395  
Reinsurance recoverable 10,929 10,282  
Other assets 11,411 11,950  
Investment funds 30,317 26,327  
Restricted cash 1,583 1,332  
Liabilities and Equity      
Interest sensitive contract liabilities 344,593 315,889 292,238
Future policy benefits 48,241 50,264 49,400
Liability 5,283 4,930 4,489
Accumulated other comprehensive loss (related party: 2026 – $(184) and 2025 – $(112)) (3,213) (2,641)  
Consolidated Entity, excluding Affiliated Entity      
Assets      
Available-for-sale securities 208,443 202,116  
AFS securities allowance for credit losses 703 757 760
Short-term Investments 230 175  
Other investments 4,470 4,148  
Trading securities, at fair value 6,318 6,409  
Mortgage loans, net of allowances 99,974 91,918  
Investment funds 276 108  
Related Party      
Assets      
Available-for-sale securities 33,436 26,428  
AFS securities allowance for credit losses 1 1  
Short-term Investments 18 18  
Other investments 333 344  
Investment funds 2,311 1,318  
Accrued investment income 252 241  
Reinsurance recoverable 7,327 6,336  
Other assets 332 284  
Trading securities, at fair value 1,290 454  
Mortgage loans, net of allowances 1,549 1,486  
Investment funds 3,243 2,149  
Liabilities and Equity      
Interest sensitive contract liabilities 4,854 5,381  
Future policy benefits 43 36  
Liability 294 290  
Other liabilities 7,322 6,479  
Accumulated other comprehensive loss (related party: 2026 – $(184) and 2025 – $(112)) (184) (112)  
Consolidated Entity, Affiliated Entity and VIE Primary Beneficiary      
Assets      
Other assets 101   $ 23
Trading securities, at fair value 603 978  
Investment funds 26,486 23,783  
Liabilities and Equity      
Other liabilities 292 235  
Variable Interest Entities      
Assets      
Other investments 925 844  
Other assets 202 346  
Trading securities, at fair value 2,103 3,120  
Mortgage loans, net of allowances 2,058 2,140  
Investment funds 26,798 24,070  
Restricted cash 18 17  
Liabilities and Equity      
Other liabilities 1,401 1,712  
Fair Value      
Liabilities and Equity      
Interest sensitive contract liabilities 276,856 254,089  
Fair Value | Consolidated Entity, excluding Affiliated Entity      
Assets      
Short-term Investments 125 1,049  
Other investments 47 67  
Investment funds 276 108  
Fair Value | Related Party      
Assets      
Short-term Investments 18 18  
Investment funds 932 831  
Recurring | Fair Value      
Assets      
Reinsurance recoverable 1,920 1,911  
Other assets 169 214  
Restricted cash 1,583 1,332  
Liabilities and Equity      
Interest sensitive contract liabilities 17,126 15,515  
Future policy benefits 1,564 1,615  
Liability 5,283 4,930  
Recurring | Fair Value | Consolidated Entity, excluding Affiliated Entity      
Assets      
Embedded derivative assets, fair value (2,404) (2,409)  
Short-term Investments 105 33  
Other investments 1,911 1,818  
Trading securities, at fair value 6,318 6,409  
Mortgage loans, net of allowances 99,974 91,918  
Recurring | Fair Value | Related Party      
Assets      
Embedded derivative assets, fair value (347) (356)  
Other investments 333 344  
Reinsurance recoverable   1,911  
Trading securities, at fair value 1,290 454  
Mortgage loans, net of allowances 1,549 1,486  
Investment funds 2,311 1,318  
Recurring | Fair Value | Variable Interest Entities      
Assets      
Trading securities, at fair value 2,103 3,120  
Mortgage loans, net of allowances 2,058 2,140  
Investment funds $ 26,798 $ 24,070